Kodiak Gas Services, Inc. (NYSE:KGS) Major Shareholder Sells $177,112,157.50 in Stock

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of Kodiak Gas Services stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $47.50, for a total transaction of $177,112,157.50. Following the transaction, the insider now directly owns 34,771,323 shares in the company, valued at $1,651,637,842.50. This represents a 9.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Kodiak Gas Services Trading Down 2.4 %

Shares of KGS stock traded down $1.10 during trading hours on Friday, reaching $45.28. 1,330,299 shares of the stock were exchanged, compared to its average volume of 1,121,720. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 156.14 and a beta of 1.18. Kodiak Gas Services, Inc. has a 12-month low of $23.12 and a 12-month high of $50.43. The company's 50-day moving average price is $43.46 and its 200-day moving average price is $34.93. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86.

Kodiak Gas Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.62%. Kodiak Gas Services's dividend payout ratio is 565.54%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KGS. Mizuho raised their price target on Kodiak Gas Services from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Monday. Barclays lifted their target price on Kodiak Gas Services from $32.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Citigroup increased their price objective on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Raymond James boosted their target price on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Kodiak Gas Services from $34.00 to $42.00 and gave the company a "neutral" rating in a research note on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Kodiak Gas Services currently has an average rating of "Moderate Buy" and an average price target of $41.09.

Institutional Investors Weigh In On Kodiak Gas Services

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its position in Kodiak Gas Services by 444.4% in the 3rd quarter. FMR LLC now owns 4,889,804 shares of the company's stock valued at $141,804,000 after acquiring an additional 3,991,630 shares during the last quarter. Zimmer Partners LP boosted its stake in shares of Kodiak Gas Services by 313.0% during the third quarter. Zimmer Partners LP now owns 1,779,851 shares of the company's stock valued at $51,616,000 after purchasing an additional 1,348,899 shares during the period. Wellington Management Group LLP bought a new position in shares of Kodiak Gas Services in the third quarter worth about $44,558,000. State Street Corp increased its stake in Kodiak Gas Services by 8.7% in the 3rd quarter. State Street Corp now owns 678,925 shares of the company's stock worth $19,689,000 after buying an additional 54,202 shares during the period. Finally, Augustine Asset Management Inc. lifted its holdings in Kodiak Gas Services by 1,761.2% during the 4th quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company's stock valued at $26,141,000 after buying an additional 605,844 shares in the last quarter. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak Gas Services Company Profile

Kodiak Gas Services, Inc operates contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Compression Operations and Other Services. The Compression Operations segment operates company-owned and customer-owned compression infrastructure to enable the production, gathering, and transportation of natural gas and oil.